maturities

With over $4.2 billion of outstanding catastrophe bonds scheduled to mature in 2014, the insurance-linked securities (ILS) and cat bond primary issuance market will have opportunities to entice sponsors to re-issue their risks in new transactions in 2014.

2012 has been a good year for the catastrophe bond and insurance-linked securities market so far. We’ve seen issuance this year hit the second highest level on record, we currently have just over $5.6 billion worth of 2012 transactions listed in our Deal Directory which is second only to 2007. The market has also reached […]

After a bumper first half of the year in the catastrophe bond and insurance-linked securities market which saw over $3.6 billion of notional volume issued (see our Deal Directory for transaction details), we thought it would be interesting to look ahead and see what that means for maturities in the coming years. Given the large […]

The catastrophe bond market has seen a busy year so far in 2012 with the total volume of new cat bond issuances now sitting at $3.588 billion according to the data in our Deal Directory. As fast as the market grows from new issuances though it is of course shedding capacity at the other end […]

Willis Capital Markets & Advisory (WCMA), the division of global broker Willis Group which focuses on capital markets transactions such as catastrophe bonds and insurance-linked securities, recently published a review of the first quarter of 2012 ILS market. We’ve already covered Q1 extensively so we won’t cover this report in detail (you can read all […]

As securities go, catastrophe bonds and insurance-linked securities are relatively short duration, with an average lifespan of three years. This means that while new issuance flows into the market there is a constant stream of transactions maturing, coming off risk and freeing up investor capital allowing it to be deployed into the new transactions. A […]

Almost every participant in, and commentator on, the catastrophe bond and insurance-linked securities market is expecting the volume of outstanding cat bonds and ILS in the marketplace to increase over the course of 2012. Issuance volume for the year is expected to be at least comparable with 2011 (as long as no major events affect […]

Another $250m of catastrophe bond notes which were issued by Chubb in 2007 have matured and been delisted from the Cayman Islands Stock Exchange. The first cat bond in Chubb’s East Lane series of deals, East Lane Re Ltd., provided them with cover against U.S. hurricanes in some northeastern states.

A further $200m of catastrophe bond notes have matured in the last few days. Chubb Groups 2008 cat bond East Lane Re II Ltd., which provided them with cover for various perils including hurricanes, earthquakes, winter storms and wildfires in the U.S. and Canada, has matured without loss.

Swiss Re’s one year $150m California earthquake risk catastrophe bond, Redwood Capital XI Ltd., has matured and been delisted at the Cayman Islands stock exchange. The transaction matured on the 7th January and was delisted on the 19th. It’s safe to assume that it matured and made payment in full to investors as there were […]